Agnico Eagle Mines Ltd (NYSE:AEM) (TSE:AEM) traded down 7.3% during mid-day trading on Wednesday . The stock traded as low as $35.46 and last traded at $35.51. 2,945,551 shares traded hands during trading, an increase of 129% from the average session volume of 1,284,845 shares. The stock had previously closed at $38.30.

Several equities research analysts recently issued reports on the stock. National Bank Financial upgraded shares of Agnico Eagle Mines from a “sector perform” rating to an “outperform” rating in a research report on Thursday, August 9th. Zacks Investment Research upgraded shares of Agnico Eagle Mines from a “sell” rating to a “hold” rating in a research report on Tuesday, July 24th. ValuEngine upgraded shares of Agnico Eagle Mines from a “hold” rating to a “buy” rating in a research report on Monday, July 2nd. Royal Bank of Canada upgraded shares of Agnico Eagle Mines from a “sector perform” rating to an “outperform” rating and raised their price objective for the stock from $49.00 to $55.00 in a research report on Monday, July 30th. Finally, TD Securities raised their price objective on shares of Agnico Eagle Mines from $55.00 to $56.00 and gave the stock a “buy” rating in a research report on Tuesday, July 31st. Four equities research analysts have rated the stock with a hold rating and ten have assigned a buy rating to the stock. The company has a consensus rating of “Buy” and a consensus price target of $57.70.

The stock has a market cap of $9.34 billion, a price-to-earnings ratio of 31.85 and a beta of -0.53. The company has a debt-to-equity ratio of 0.35, a quick ratio of 2.83 and a current ratio of 4.02.

Agnico Eagle Mines (NYSE:AEM) (TSE:AEM) last announced its quarterly earnings results on Wednesday, July 25th. The mining company reported $0.01 earnings per share for the quarter, missing analysts’ consensus estimates of $0.08 by ($0.07). Agnico Eagle Mines had a net margin of 6.84% and a return on equity of 3.07%. The company had revenue of $556.28 million for the quarter, compared to analyst estimates of $536.81 million. During the same quarter in the prior year, the business earned $0.24 earnings per share. Agnico Eagle Mines’s revenue was up 1.2% on a year-over-year basis. research analysts expect that Agnico Eagle Mines Ltd will post 0.32 EPS for the current fiscal year.

Several institutional investors and hedge funds have recently made changes to their positions in AEM. Quadrant Capital Group LLC increased its position in shares of Agnico Eagle Mines by 995.7% during the first quarter. Quadrant Capital Group LLC now owns 2,564 shares of the mining company’s stock valued at $106,000 after acquiring an additional 2,330 shares during the last quarter. Sei Investments Co. increased its position in shares of Agnico Eagle Mines by 160.2% during the second quarter. Sei Investments Co. now owns 3,562 shares of the mining company’s stock valued at $163,000 after acquiring an additional 2,193 shares during the last quarter. US Bancorp DE increased its position in shares of Agnico Eagle Mines by 54.5% during the second quarter. US Bancorp DE now owns 3,750 shares of the mining company’s stock valued at $171,000 after acquiring an additional 1,323 shares during the last quarter. Pendal Group Ltd increased its position in shares of Agnico Eagle Mines by 97.1% during the second quarter. Pendal Group Ltd now owns 3,939 shares of the mining company’s stock valued at $181,000 after acquiring an additional 1,941 shares during the last quarter. Finally, Engineers Gate Manager LP acquired a new stake in shares of Agnico Eagle Mines during the second quarter valued at about $206,000. Institutional investors and hedge funds own 59.04% of the company’s stock.

About Agnico Eagle Mines (NYSE:AEM)

Agnico Eagle Mines Limited engages in the exploration, development, and production of mineral properties in Canada, Mexico, and Finland. The company operates through Northern Business and Southern Business segments. It primarily produces and sells gold deposit, as well as explores for silver, zinc, and copper deposits.

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